Price T Rowe Associates Inc. MD Sells 5,098,897 Shares of Nutrien Ltd. (NYSE:NTR)

Price T Rowe Associates Inc. MD lessened its position in Nutrien Ltd. (NYSE:NTR) by 63.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,892,488 shares of the company’s stock after selling 5,098,897 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.58% of Nutrien worth $157,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTR. Assenagon Asset Management S.A. grew its stake in shares of Nutrien by 2.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 16,441 shares of the company’s stock valued at $931,000 after buying an additional 392 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Nutrien by 22.0% during the fourth quarter. Pinnacle Associates Ltd. now owns 20,444 shares of the company’s stock valued at $1,152,000 after buying an additional 3,680 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Nutrien by 22.1% during the fourth quarter. Fifth Third Bancorp now owns 5,632 shares of the company’s stock valued at $317,000 after buying an additional 1,021 shares during the last quarter. Addenda Capital Inc. grew its stake in shares of Nutrien by 0.7% during the fourth quarter. Addenda Capital Inc. now owns 546,783 shares of the company’s stock valued at $30,800,000 after buying an additional 3,876 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Nutrien during the fourth quarter valued at about $3,433,000. 63.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Nutrien from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company cut their target price on Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Scotiabank cut their target price on Nutrien from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Berenberg Bank raised Nutrien from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $66.00 in a research note on Monday, April 29th. Finally, Mizuho raised Nutrien from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.39.

Nutrien Stock Down 2.3 %

Shares of NTR stock traded down $1.18 during trading hours on Monday, hitting $50.04. 301,105 shares of the company’s stock traded hands, compared to its average volume of 1,874,026. The stock’s fifty day simple moving average is $53.07 and its two-hundred day simple moving average is $52.89. Nutrien Ltd. has a 12-month low of $47.86 and a 12-month high of $69.12. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.70 and a beta of 0.83. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. On average, analysts expect that Nutrien Ltd. will post 3.78 EPS for the current year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 28th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, June 28th. Nutrien’s dividend payout ratio (DPR) is currently 126.32%.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.